Amcor PLC (NYSE:AMCR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Amcor PLC (NYSE:AMCR) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $49.4933.

A number of brokerages have recently commented on AMCR. Bank of America boosted their price objective on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Citigroup reiterated a “buy” rating and set a $52.00 price target (up from $47.00) on shares of Amcor in a report on Friday, August 14th. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the company a “hold” rating in a research report on Tuesday, July 21st. BMO Capital Markets initiated coverage on shares of Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Amcor in a research note on Friday, August 7th.

Hedge Funds Weigh In On Amcor

A number of institutional investors have recently modified their holdings of the business. Brown Financial Advisors raised its holdings in shares of Amcor by 3.9% in the second quarter. Brown Financial Advisors now owns 6,287 shares of the company’s stock valued at $273,000 after buying an additional 237 shares during the last quarter. CYBER HORNET ETFs LLC lifted its position in Amcor by 11.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after acquiring an additional 447 shares during the period. FNY Investment Advisers LLC lifted its position in Amcor by 16.1% during the 2nd quarter. FNY Investment Advisers LLC now owns 3,600 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares during the period. FineMark National Bank & Trust grew its stake in shares of Amcor by 0.6% in the 4th quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock valued at $671,000 after purchasing an additional 503 shares during the last quarter. Finally, Bangor Savings Bank purchased a new position in shares of Amcor in the 2nd quarter valued at approximately $26,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Trading Up 0.0%

AMCR opened at $45.17 on Tuesday. The stock has a market capitalization of $20.88 billion, a PE ratio of 19.14, a P/E/G ratio of 2.47 and a beta of 0.60. Amcor has a one year low of $36.25 and a one year high of $50.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. The business’s 50 day moving average price is $45.43 and its 200 day moving average price is $42.53.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the company earned $0.20 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, equities research analysts expect that Amcor will post 1.84 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, September 4th. Amcor’s dividend payout ratio (DPR) is currently 110.17%.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.